The streaming service ALTBalaji announced the results for Q4 and FY 2020 and the results look promising for the regional streaming platform.
For the FY20 the results were:
ALTBalaji’s operating revenue increased from 41.87 crore in FY19 to 77.79 crore in FY20 which is an 85.1% growth. While the operating loss also reduced significantly from 120.81 crore in FY19 to 92.16 crore in FY20.
For Q4 the results were:
The subscription revenue grew over 100% YoY for the platform adding 8.2 million subscribers in the Q1 2020 and the operating revenue increased 6.12% YoY to 22.18 crore in Q4 20 from 13.76 crore in Q4 19. The Q4 operating loss for 2020 was 14.44 crore which is almost half of that of Q4 operating loss for 2019 at 31.75 crore.
Ultimately the consolidated report was:
Compared to FY19, the consolidated operating revenue increased to 573.55 crore in FY20 from 427.71 crore while the consolidated operating revenue for Q4 increased 2.12% YoY in 2020.
The consolidated operating loss of FY 2020 declined from 97.75 crore to 58.96 crore and the consolidated loss for Q4 in 2020 was 19.84 crore decreasing from 27.97 crore in Q4 2019.
The operating profit for FY 2020 is 10.73 crore as compared to the operating loss realized in FY 2019 of 105.11 crore. The Q4 profit has also increased to 39.58 crore from 33.24 crore in Q4 2019.
The reports suggest an overall growth in the streaming service’s financials as the demand for their regional and bold content in predominantly tier 2 and tier 3 cities increases and viewers subscribe to the platform for their diverse repertoire of web series, films and shows in various genres.
Balaji Telefilms Limited’s Managing director, Shobha Kapoor said, “This year has been one of the best years for Balaji Telefilms despite the partial impact of Covid-19 towards the end of March 2020. We continue to focus on creating good content and growing our digital platform. We are witnessing a huge opportunity within the digital space due to Covid-19 and we are gearing ourselves to exploit this opportunity.”
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